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To: Tunica Albuginea who wrote (52748)	6/1/2000 2:08:00 PM
From: pater tenebrarum	Respond to of 99985

i agree with him that we will see a recession at some point...and it will come quickly, before anyone realizes it. but to argue the Fed is tight, or 'not printing too much money' is totally ridiculous. the Fed has never printed as much as under Greenspan. in fact his monetary policy is always as loose as possible. we have had a veritable explosion in the broad money aggregates M3 and MZM. since inflation has risen faster than the Fed Funds rate, policy hasn't tightened at all. in fact, in real terms it is now looser than before. regards, hb